Wealthy Russians have long invested in luxury real estate across the US, from high-end apartments in Florida to multi-million dollar townhomes in New York City.
Sunny Isles Beach in Florida is known as"Little Moscow."Luxury US real estate owned by Russian oligarchs is under scrutiny for money laundering.However, real estate needs to go through forfeiture litigation before the government can seize it, he noted.
"All sorts of assets are on the table, for sure. And bringing up real estate is particularly pertinent," AdamsCNN in an interview published Friday. "The way in which much money laundering is occurring is through large, stable value assets. Real estate is at the top of the list for that kind of investigation."
Money laundering investigators specifically look for "extremely expensive real estate in stable economies," he told the outlet. The Biden administration created the KleptoCapture task force "to hold accountable corrupt Russian oligarchs" following the invasion of Ukraine by seizing their US assets. While luxury real estate remains a focus of the Justice Department, Adams noted that federal forfeiture law requires